Home Invest Belgium (HOMI) Q3 2025 earnings summary

Executive summary

• Real estate portfolio valued at €937.35 million as of 30 September 2025, with 91.4% residential assets and over half of properties less than 10 years old.

• High occupancy rate of 98.3% and like-for-like rental growth of 4.4% in the first nine months of 2025.

• Completion of Jourdan 95 project (48 units) and acquisition of Jardin Leopold (56 units); agreement for future acquisition of 8 projects in Brussels' European quarter (approx. 700 units).

• Sale of City Gardens in Leuven for €34 million, 16% above last fair value.

Financial highlights

• Net rental income rose to €28.26 million (up from €27.09 million year-over-year).

• EPRA earnings increased by 3.2% to €17.35 million; EPRA earnings per share up 2.5% to €0.87.

• Net result (group share) was €28.79 million, or €1.44 per share.

• IFRS NAV per share increased 1.5% to €24.51; EPRA NTA per share up 2.1% to €24.07.

• Debt ratio (RREC) at 49.86%, average financing cost at 2.15%.

Outlook and guidance

• EPRA earnings per share expected to rise to €1.20 for 2025 (from €1.16 in 2024).

• Distribution to shareholders set to increase to €1.14 per share for 2025, marking the 25th consecutive annual increase.

• Board reaffirms distribution policy targeting growth at or above long-term inflation.